ALPS Advisors, Inc. and the Alerian MLP ETF report a combined beneficial ownership of 5,721,969 common units of Global Partners LP, representing 16.83% of the class as of the filing. ALPS Advisors states it provides investment advice to funds and disclaims direct beneficial ownership because the reported units are owned by the funds it manages. The filers report no sole voting or dispositive power and shared voting and dispositive power over the units. The filing certifies the securities were acquired in the ordinary course of business and are not intended to influence control.
Positive
Material disclosure: Reporting of 5,721,969 units and 16.83% ownership provides clear visibility into large holder position.
Passive intent stated: Certification that securities are held in the ordinary course and not for control reduces near-term governance uncertainty.
Negative
Shared voting power noted, which could limit clarity about who will vote on key matters if coordination changes.
Single-filer amendment (Amendment No. 5) suggests prior updates; frequent amendments can signal active position adjustments by the fund.
Insights
TL;DR: A registered investment adviser reports a material passive stake of 16.83%.
The filing shows ALPS Advisors, Inc. as the registered investment adviser with shared voting and dispositive power over 5,721,969 units held by the Alerian MLP ETF. That structure is typical when an adviser manages ETF holdings and disclaims direct beneficial ownership while reporting voting influence.
Key dependencies include continuation of the fund's holdings and any future disclosures if the stake crosses other regulatory thresholds. Monitor any subsequent amendments for changes in percentage, voting power, or statements indicating active intent to influence governance within a typical ETF rebalancing horizon.
TL;DR: A 16.83% holding is material and must be tracked for investor-impact signaling.
A 16.83% position is above common 5% reporting thresholds and may be material to investors because it represents a sizable minority stake in the public unit class. The filing records shared rather than sole control, consistent with ETF custody and adviser arrangements.
Investors should watch for any future Schedule 13D/A or Form 4 filings that would indicate a shift from passive to active intent or changes in voting arrangements within the next reporting cycle.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
Global Partners LP
(Name of Issuer)
Common Units Representing Limited Partner Interests
(Title of Class of Securities)
37946R109
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
37946R109
1
Names of Reporting Persons
ALPS Advisors, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
COLORADO
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,721,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,721,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,721,969.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
16.83 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
37946R109
1
Names of Reporting Persons
Alerian MLP ETF
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,721,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,721,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,721,969.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
16.83 %
12
Type of Reporting Person (See Instructions)
IV
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Global Partners LP
(b)
Address of issuer's principal executive offices:
PO Box 9161, 800 South Street, Suite 500, Waltham, MA, 02454
Item 2.
(a)
Name of person filing:
(1) ALPS Advisors, Inc.
(2) Alerian MLP ETF
(b)
Address or principal business office or, if none, residence:
Common Units Representing Limited Partner Interests
(e)
CUSIP No.:
37946R109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
ALPS Advisors, Inc. ("AAI"), an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to investment companies registered under the Investment Company Act of 1940 (collectively referred to as the "Funds"). In its role as investment advisor, AAI has voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. AAI disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934.
Alerian MLP ETF is an investment company registered under the Investment Company Act of 1940 and is one of the Funds to which AAI provides investment advice.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
ALPS Advisors, Inc.
Signature:
/s/ Matthew Sutula
Name/Title:
Matthew Sutula, Chief Compliance Officer
Date:
10/01/2025
Alerian MLP ETF
Signature:
/s/ Matthew Sutula
Name/Title:
Matthew Sutula, Chief Compliance Officer
Date:
10/01/2025
Comments accompanying signature: After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Alerian MLP ETF report in Global Partners LP (GLP)?
The filing reports ownership of 5,721,969 common units, equal to 16.83% of the class.
Does ALPS Advisors claim direct beneficial ownership of the GLP units?
No. ALPS Advisors disclaims beneficial ownership, stating the securities are owned by the funds to which it provides advice.
Does the filer have sole voting control over the reported units?
No. The filing shows 0 units with sole voting power and 5,721,969 units with shared voting power.
Was the position acquired to influence control of Global Partners LP?
The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.
Who signed the Schedule 13G/A for these filers?
The filing is signed by Matthew Sutula, Chief Compliance Officer, for both ALPS Advisors, Inc. and Alerian MLP ETF on 10/01/2025.
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